Madison MoneySports - Personal Finance Thread

[ScottyB]

flipping cars also assumes you have the ~$1k in tools required to actually fix the stuff that's broken so you can sell a running car, and a box/garage to store them in. you're not making anything off of that kind of work on a constant basis unless you already do it for a living or have incredible amounts of free time.

i found investopedia.com very helpful for advice on stocks. that's not the kind of thing you want to rely on for long term savings, but it could be of interest and make you some money if you understand what you're doing. it helped me understand a lot about the terms and forms of buying and selling. i've never made big bucks in stocks, or done any kind of exotic trading but i've held and sold a few stocks that made me a couple grand and even though others lost some, i cashed out higher than i put in overall.

get yourself a subscription to a magazine too so you can grab some ideas on the throne. i actually found a couple excellent mutual funds through Money Magazine a couple years back. just another way to stay informed from another channel of information.